principal = 10000 rate = 20% find compound interest after 1 and half years if compounded half yearly​

Question

principal = 10000 rate = 20% find compound interest after 1 and half years if compounded half yearly​

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Amelia 1 month 2021-08-19T09:07:46+00:00 2 Answers 0 views 0

Answers ( )

    0
    2021-08-19T09:09:23+00:00

    Given :

    Principle = 10,000/-

    Rate of Interest = 20%

    Time = 1 1/2 years => 3/2 years

    To Find:

    1. Amount
    2. Compound Interest

    SOLUTION:

    amount = principle \times (1  +  \frac{rate \: of \: interest}{200}) {}^{2 \times time}

     =  > 10000 \times (1 +  \frac{20}{200} ) {}^{2 \times  \frac{3}{2} = >   \frac{6}{2}  = 3}  \\  =  > 10000 \times (1 +  \frac{20}{200} ) {}^{3}  \\  =  > 10000 \times (1 +  \frac{1}{10} ) {}^{3}  \\ =  >  10000 \times ( \frac{11}{10} ) {}^{3}  = 10000 \times  \frac{11}{10}  \times  \frac{11}{10}  \times  \frac{11}{10}  \\  =  > 10000 \times  \frac{1331}{1000}  \\  =  > 10 \times 1331 = 13310

    THEREFORE, Amount = 13,310.00/-

    Compound Interest = Amount – Principle => 13,310 – 10,000 = 3,310/-

    CONCLUSION:

    1. Amount = 13,310.00/-
    2. Compound Interest = 3,310.00/-

    HOPE THIS HELPS…

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    ✨ Happy Learning!✨

    0
    2021-08-19T09:09:45+00:00

    Step-by-step explanation:

    If the rate of interest is R% per annum and the interest is compounded half-yearly, then the rate of interest will be R/2% per half year. … 10000 for 1½ years at 20% per annum, interest being payable half-yearly. Solution: We know, R= 20% per annum. or, 10% per half year.

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